NE Stock Overview
Noble Corporation, together with its subsidiaries, operates as an offshore drilling contractor for the oil and gas industry worldwide.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$29.82|
|52 Week High||US$38.59|
|52 Week Low||US$20.43|
|1 Month Change||8.79%|
|3 Month Change||-5.93%|
|1 Year Change||42.75%|
|3 Year Change||n/a|
|5 Year Change||n/a|
|Change since IPO||20.49%|
Recent News & Updates
Noble Corporation - Required Jackup Sale To Shelf Drilling Looks Just Bad
Discussing proposed $375 million sale of five modern jackup rigs to competitor Shelf Drilling. Noble appears to be on the receiving end of the deal with Shelf Drilling picking up a fully operational subsidiary with sizeable backlog at a bargain price. Divestment has been required by the UK antitrust watchdog. As a result, anticipated closing of the merger has been delayed to the end of Q3. Frankly speaking, I would have preferred Noble to avoid this fire sale and rather terminate the merger with Maersk Drilling but both companies have been steadfast in their commitment to the transaction. Two weeks ago, I would have likely downgraded Noble based on the disappointing divestment terms but after the recent 30% sell-off, I decided to keep my "buy" rating on the shares.
|NE||US Energy Services||US Market|
Return vs Industry: NE exceeded the US Energy Services industry which returned 22.2% over the past year.
Return vs Market: NE exceeded the US Market which returned -12.9% over the past year.
|NE Average Weekly Movement||9.0%|
|Energy Services Industry Average Movement||9.6%|
|Market Average Movement||7.9%|
|10% most volatile stocks in US Market||17.2%|
|10% least volatile stocks in US Market||3.2%|
Stable Share Price: NE is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.
Volatility Over Time: NE's weekly volatility (9%) has been stable over the past year.
About the Company
Noble Corporation, together with its subsidiaries, operates as an offshore drilling contractor for the oil and gas industry worldwide. The company provides contract drilling services to the oil and gas industry through its fleet of mobile offshore drilling units. As of February 16, 2022, it operated a fleet of 20 offshore drilling units, which included 12 floaters and 8 jackups.
Noble Fundamentals Summary
|NE fundamental statistics|
Is NE overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|NE income statement (TTM)|
|Cost of Revenue||US$725.94m|
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
Aug 08, 2022
|Earnings per share (EPS)||1.28|
|Net Profit Margin||10.21%|
How did NE perform over the long term?See historical performance and comparison
Is NE undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 6/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for NE?
Other financial metrics that can be useful for relative valuation.
|What is NE's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does NE's PE Ratio compare to its peers?
|NE PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
NEX NexTier Oilfield Solutions
Price-To-Earnings vs Peers: NE is good value based on its Price-To-Earnings Ratio (23.2x) compared to the peer average (44.5x).
Price to Earnings Ratio vs Industry
How does NE's PE Ratio compare vs other companies in the US Energy Services Industry?
Price-To-Earnings vs Industry: NE is good value based on its Price-To-Earnings Ratio (23.2x) compared to the US Energy Services industry average (34x)
Price to Earnings Ratio vs Fair Ratio
What is NE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||23.2x|
|Fair PE Ratio||53.1x|
Price-To-Earnings vs Fair Ratio: NE is good value based on its Price-To-Earnings Ratio (23.2x) compared to the estimated Fair Price-To-Earnings Ratio (53.1x).
Share Price vs Fair Value
What is the Fair Price of NE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: NE ($29.82) is trading below our estimate of fair value ($329.31)
Significantly Below Fair Value: NE is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
Discover undervalued companies
How is Noble forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Future Growth Score6/6
Future Growth Score 6/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: NE's forecast earnings growth (83.5% per year) is above the savings rate (1.9%).
Earnings vs Market: NE's earnings (83.5% per year) are forecast to grow faster than the US market (12.9% per year).
High Growth Earnings: NE's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: NE's revenue (41.6% per year) is forecast to grow faster than the US market (7.9% per year).
High Growth Revenue: NE's revenue (41.6% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: NE's Return on Equity is forecast to be high in 3 years time (23.1%)
Discover growth companies
How has Noble performed over the past 5 years?
Past Performance Score2/6
Past Performance Score 2/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NE has a high level of non-cash earnings.
Growing Profit Margin: NE became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: NE has become profitable over the past 5 years, growing earnings by -9.2% per year.
Accelerating Growth: NE has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: NE has become profitable in the last year, making it difficult to compare its past year earnings growth to the Energy Services industry (140.2%).
Return on Equity
High ROE: NE's Return on Equity (5.7%) is considered low.
Discover strong past performing companies
How is Noble's financial position?
Financial Health Score4/6
Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: NE's short term assets ($418.0M) exceed its short term liabilities ($234.1M).
Long Term Liabilities: NE's short term assets ($418.0M) exceed its long term liabilities ($333.8M).
Debt to Equity History and Analysis
Debt Level: NE's net debt to equity ratio (7.6%) is considered satisfactory.
Reducing Debt: NE's debt to equity ratio has reduced from 65.4% to 14.7% over the past 5 years.
Debt Coverage: NE's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: Insufficient data to determine if NE's interest payments on its debt are well covered by EBIT.
Discover healthy companies
What is Noble current dividend yield, its reliability and sustainability?
Dividend Score 0/6
Cash Flow Coverage
Dividend Yield vs Market
Notable Dividend: Unable to evaluate NE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate NE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if NE's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if NE's dividend payments have been increasing.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as NE has not reported any payouts.
Discover strong dividend paying companies
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Robert Eifler (42 yo)
Mr. Robert W. Eifler serves as President and Chief Executive Officer at Noble Corporation since May 2020 and served as its Senior Vice President, Commercial since August 2019 until May 2020. He serves as D...
CEO Compensation Analysis
Compensation vs Market: Robert's total compensation ($USD25.29M) is above average for companies of similar size in the US market ($USD5.42M).
Compensation vs Earnings: Robert's compensation has been consistent with company performance over the past year.
Experienced Management: NE's management team is considered experienced (2.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.1%.
Noble Corporation's employee growth, exchange listings and data sources
- Name: Noble Corporation
- Ticker: NE
- Exchange: NYSE
- Founded: 1921
- Industry: Oil and Gas Drilling
- Sector: Energy
- Implied Market Cap: US$1.939b
- Shares outstanding: 65.04m
- Website: https://www.noblecorp.com
Number of Employees
- Noble Corporation
- 13135 Dairy Ashford
- Suite 800
- Sugar Land
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/08/07 00:00|
|End of Day Share Price||2022/08/05 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.